Expanding Cash Management Opportunities in Russia

Martine Sodaify, Senior product manager - Payment Services, Société Générale and Roman Berezovsky, Head of Transaction Banking, Banque Société Générale Vostok

Since many of the currency restrictions on the Russian Ruble (RUB) were lifted in mid-2006, the currency is now more easily convertible and transferable. Furthermore, across the same period, the economic situation has become less volatile and there is confidence amongst market participants of the RUB’s stability. With these two market conditions gradually improving, convertibility and stability, there are now opportunities for both corporates and financial institutions to invest in RUB and use it as a transaction currency.